BDGS

BDGS is an actively managed fund-of-funds that toggles between a risk-on and a risk-averse investment posture. Portfolio allocation and rebalancing are based on a proprietary analysis of macroeconomic events, current market breadth participation, and 3-month volatility. During periods of risk-on, the portfolio typically rebalances six times per year and holds approximately 75% passively managed US ETFs and 20% individual large-cap stocks. During periods of risk-averse, the portfolio is typically rebalanced twice a month and holds approximately 80% cash or cash equivalents and 20% individual large-cap stocks. The fund particularly selects ETFs that track US small, mid, and large capitalization equity indices and individual large-caps that are the top 10 holdings in the Nasdaq 100 and the S&P 500. The rebalancing frequency could change based on the sub-adviser's proprietary analysis. Investors should be mindful of the all-in cost due to the fund-of-funds structure.